Saskatchewan storms cost SGI $77 million

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Golf-ball sized hail caused property damage. Flooding wiped out part of a major highway. Heavy rains caused more flooding and more sewer damage. There was even a tornado. It’s been an intense summer for Saskatchewan residents and insurers.

Tim Kydd, SGI’s Assistant Vice President of Communications told ILSTV that it’s been a summer for the record books.

Tim Kydd: We’ve reached the highest number of claims that we’ve had in ten years – both from the property and auto side. We have to date an estimated number of claims of about 5,600 property claims and another 7,600 vehicle claims, with a total dollar amount of damage of roughly $77 million to date.

Despite the high cost of claims, Tim said it’s not yet known if the storms will affect future insurance rates.

Tim Kydd: That’s something that we’ll have to analyze this fall here. It’s too early to tell but certainly it’s going to have a significant impact.